Solar PV Recycling Market Projected to Reach USD 3562.1 million by 2035 Amid Rising Global Demand

The solar PV recycling market is poised for substantial growth as global solar adoption continues to expand, creating a pressing need for effective end-of-life management. Valued at USD 589.9 million in 2025, the market is projected to reach USD 3562.1 million by 2035, reflecting a robust CAGR of 19.7%. This surge is driven by increasing volumes of decommissioned photovoltaic modules, regulatory mandates for recycling, and growing awareness of circular economy principles across the energy sector.

Between 2021 and 2025, the market experienced a rapid expansion from USD 240 million to USD 589.9 million, supported by rising solar installations and nascent recycling infrastructure. Intermediate growth was steady, with the market reaching USD 411.7 million in 2024 and USD 492.8 million in 2025, reflecting strong early-stage momentum and untapped potential, particularly in regions with emerging recycling capabilities.

The period from 2026 to 2030 marks accelerated growth, with the market forecasted to rise sharply from USD 589.9 million to USD 1.45 billion. This phase is characterized by wider adoption of recycling technologies, expansion of collection networks, and increased investments by manufacturers to recover valuable materials from retired modules. By 2035, the market is expected to reach USD 3.56 billion, fueled by continued innovation, circular economy adoption, and global policy support.

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Key Market Drivers

The market growth is driven by several intersecting factors across energy, waste management, and materials recovery sectors. The expansion of global solar installations has led to large volumes of end-of-life panels, which require efficient recycling processes to recover valuable materials such as silicon, silver, aluminum, and glass. E-waste management frameworks and renewable energy infrastructure developments further underpin demand, as older modules are replaced with higher-efficiency designs.

Technological advancements are enhancing recovery rates while reducing operational costs, making large-scale recycling economically viable. Automated sorting, AI-driven separation processes, and high-yield recovery methods are enabling recyclers to efficiently process complex PV module compositions, supporting the growing circular economy trend. Rising environmental awareness and corporate sustainability goals are further encouraging manufacturers to integrate structured recycling into their operations.

Segmental Insights

Glass Recyclable Material Leads

Among recyclable materials, glass dominates the solar PV recycling market, projected to account for 75% of total market revenue in 2025. Glass represents the largest proportion of a photovoltaic module’s weight, allowing high recovery volumes at lower processing costs. Mechanical and chemical separation techniques ensure high-quality recycled glass, which can be reintegrated into new PV modules or utilized in other industrial applications. The maturity of glass recycling infrastructure and compatibility with existing industrial processes have solidified its leading position in the market.

Utility Sector Dominates End-Use Applications

The utility sector holds a leading position, expected to account for 45% of the market revenue in 2025. Large-scale utility solar farms, now entering replacement or repowering phases, generate substantial volumes of end-of-life modules. Economies of scale in collection and recycling operations reduce per-unit costs, while regulatory frameworks and sustainability commitments encourage utility operators to adopt structured recycling partnerships. Policy mandates for renewable energy asset decommissioning ensure a steady supply of recyclable materials from this segment, reinforcing its dominance.

Mechanical Processes Remain Key Recycling Method

Mechanical recycling processes are anticipated to capture 60% of the market revenue in 2025. These methods, involving dismantling, crushing, and separation, are cost-effective, scalable, and capable of processing large quantities of panels with minimal chemical waste. Mechanical processes are adaptable to various module designs, recovering materials like glass, aluminum, and metals with high purity. Lower capital investment requirements and operational efficiency have made mechanical recycling the preferred approach, particularly in regions with growing end-of-life module volumes.

Global Market Insights

North America and Europe Lead Growth

North America and Europe are key regions driving the solar PV recycling market. In Europe, countries like France and Germany have developed strong recycling networks and regulatory frameworks to support structured PV waste management. France, for example, has invested in specialized facilities to recover silver and silicon from retired panels, while research collaborations are improving efficiency and recovery yields.

The United Kingdom is also seeing growth driven by maturing solar infrastructure, with investments in automated disassembly and material recovery facilities. The region’s policy mandates and urban rooftop solar installations are generating higher panel waste volumes, creating opportunities for both local and international recyclers.

Asia-Pacific Expansion

China and India are projected to experience the highest growth, with CAGRs of 26.6% and 24.6% respectively from 2025 to 2035. China’s large-scale solar farms and rooftop installations are generating increasing volumes of decommissioned panels. Government-backed programs promote circular material use, while local and international firms collaborate to enhance recycling technologies and infrastructure. India’s solar parks and distributed rooftop projects are similarly driving demand for efficient recycling, with companies investing in technologies to recover silicon, aluminum, and glass, supported by government energy missions and sustainability initiatives.

United States Market Outlook

The U.S. market is forecasted to grow at a CAGR of 16.7% over the same period. State-level policies are gradually shaping solar waste management frameworks, while utility-scale solar farms and residential rooftop installations are generating growing volumes of end-of-life panels. Advanced recycling methods are being deployed to recover high-value materials, and research funding is supporting next-generation technologies to improve efficiency and reduce costs.

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Competitive Landscape

The solar PV recycling market features a mix of established manufacturers and innovative new entrants. Leading players include First Solar, Reiling GmbH & Co. KG, The Retrofit Companies, Inc., Solarcycle, Veolia, We Recycle Solar, and Canadian Solar.

First Solar integrates panel production with dedicated recycling facilities to recover high-value materials such as cadmium and tellurium from thin-film modules. Reiling GmbH & Co. KG specializes in crystalline silicon recycling in Europe, focusing on glass, aluminum, and silicon recovery through mechanical and thermal processes. The Retrofit Companies, Inc. in the U.S. provides integrated recycling services for solar panels and electronic waste, ensuring regulatory compliance and turnkey solutions.

Solarcycle employs advanced chemical and mechanical processes to recover silver, silicon, copper, and aluminum with high purity, promoting closed-loop solutions with manufacturers. Veolia operates Europe’s first large-scale solar panel recycling plant in France in partnership with PV Cycle, processing crystalline modules efficiently. We Recycle Solar combines decommissioning, logistics, testing, resale, and material recovery services in the U.S., while Canadian Solar supports take-back programs and collaborates with recycling firms to comply with emerging regulations.

Regional and local recyclers are also contributing to market growth by providing specialized services in nascent markets, driving technological innovation, and expanding capacity. Collectively, these players emphasize regulatory compliance, maximization of recovered materials, and integration into the circular economy.

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